Automotive

MEXICO CITY (Xinhuanet) - Despite the favorable results in automotive exports in 2011, domestic sales are lower than those reported in 2007, said the Center for Public Finance (CEFP) of the House of deputies, through a statement.

While Nissan confirmed last week that it would build a new plant in Mexico, rather than the United States, a report Friday from Germany said that Daimler AG also will build a new North American plant, either in the United States or Mexico.

The Mexican automotive industry has been one of the big winners in the substitution process production experienced in recent years and has involved the transfer of production from developed to developing countries.

Automotive injection molder Century Mold Inc. will invest $4.2 million to expand its Shelbyville, TN plant, a move that ultimately will create 58 new jobs. Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty today joined with representatives from Century Mold to announce the investment on Jan. 13.